{"id":1,"date":"2021-11-16T14:49:15","date_gmt":"2021-11-16T13:49:15","guid":{"rendered":"https:\/\/momentum.lu\/?p=1"},"modified":"2022-03-16T14:04:05","modified_gmt":"2022-03-16T13:04:05","slug":"flash-marches-23-septembre-2021","status":"publish","type":"post","link":"https:\/\/momentum.lu\/es\/2021\/11\/16\/flash-marches-23-septembre-2021\/","title":{"rendered":"FLASH march\u00e9s 23 septembre 2021"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1\" class=\"elementor elementor-1\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-eab7f2a elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"eab7f2a\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3d95d49\" data-id=\"3d95d49\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-966f836 elementor-widget elementor-widget-heading\" data-id=\"966f836\" data-element_type=\"widget\" data-settings=\"{&quot;motion_fx_motion_fx_scrolling&quot;:&quot;yes&quot;,&quot;motion_fx_translateY_effect&quot;:&quot;yes&quot;,&quot;motion_fx_translateY_direction&quot;:&quot;negative&quot;,&quot;motion_fx_translateY_speed&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:3,&quot;sizes&quot;:[]},&quot;motion_fx_translateY_affectedRange&quot;:{&quot;unit&quot;:&quot;%&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:{&quot;start&quot;:0,&quot;end&quot;:100}},&quot;motion_fx_devices&quot;:[&quot;widescreen&quot;,&quot;desktop&quot;,&quot;tablet&quot;,&quot;mobile&quot;]}\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">FLASH march\u00e9s 23 septembre 2021 |<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-dc88bb0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"dc88bb0\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c794026\" data-id=\"c794026\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c6ba8bb elementor-align-left elementor-widget elementor-widget-button\" data-id=\"c6ba8bb\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/momentum.lu\/actualites\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t<span class=\"elementor-button-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-long-arrow-alt-left\"><\/i>\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Actualit\u00e9s<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-400d0d5 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"400d0d5\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-243d0ee\" data-id=\"243d0ee\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63955a8 elementor-widget elementor-widget-text-editor\" data-id=\"63955a8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Chers Tous,<\/p><p>M\u00eame commentaire que la semaine derni\u00e8re, pour les 7 jours pass\u00e9s, \u00ab \u00e7a a descendouill\u00e9 violemment lundi, et puis \u00e7a a remontouill\u00e9 \u00bb. La remont\u00e9e s\u2019est faite un peu contre toute attente, li\u00e9e au fait de l\u2019ampleur des probl\u00e8mes d\u2019Evergrande et de la FED. Mais nous restons dans un contexte o\u00f9 la moindre bonne nouvelle sur les march\u00e9s, fut-elle destin\u00e9e \u00e0 ne durer que quelques heures, donne l\u2019\u00e9nergie au march\u00e9s de continuer leur progression et de r\u00e9cup\u00e9rer les pertes de la veille.<\/p><p>Les secousses, baissi\u00e8res lundi dernier et fortement haussi\u00e8res ces 3 derniers jours, n\u2019auront eu aucun impact sur l\u2019indice de la volatilit\u00e9, le VIX, toujours cantonn\u00e9 sous les 20 (et fortement en baisse aujourd\u2019hui), malgr\u00e9 le fait qu\u2019on a eu des s\u00e9ances \u00e0 -3% ou +1,50%.<\/p><p>Et, <em>in fine<\/em>, au bout de ces 7 jours, les r\u00e9sultats ne sont pas tout-\u00e0-fait identiques pour les zones g\u00e9ographiques :<\/p><ul><li>L\u2019Europe sauve son \u00e9pingle du jeu, principalement Paris, \u00e0 +0,80% ;<\/li><li>Les Etats-Unis, pour une fois, accusent un peu le coup, et leur 3 march\u00e9s domestiques (Nasdaq, DowJones, et S&amp;P500) se retrouvent sur des niveaux hebdomadaires de -2% ;<\/li><li>Idem pour les march\u00e9s asiatique, tous confondus, Japon compris, entre -2% et -3%, sauf l\u2019Inde \u00e0 +2%.<\/li><\/ul><p>On peut penser que cela est amen\u00e9 \u00e0 durer encore, et les quelques messages de prudence ou qui inciteraient \u00e0 la mesure sont relay\u00e9s \/ balay\u00e9s par des messages consid\u00e9r\u00e9s comme \u00ab de soutien \u00bb ; les exemples sont nombreux ces derniers jours :<\/p><ul><li>Pour Evergrande : les int\u00e9r\u00eats des 2 pr\u00eat seront pay\u00e9s aujourd\u2019hui et demain, mais la Chine s\u2019active pour d\u00e9manteler le groupe et faire reprendre la main par la puissance publique (cf article du Wall Street journal de ce jeudi, 14 heures fran\u00e7aises)<\/li><li>La FED t\u00e2che de rendre moins difficile et p\u00e9nible son <em>tapering<\/em>, mais les taux n\u2019en continuent pas moins \u00e0 remonter. On notera d\u2019ailleurs les articles assez irrespectueux mais qui r\u00e9sument parfaitement l\u2019\u00e9tat d\u2019esprit actuel : \u00ab il para\u00eet que la FED a parl\u00e9 \u00bb (<a href=\"https:\/\/www.zonebourse.com\/actualite-bourse\/Il-parait-que-la-Fed-a-parle--36493410\/\" target=\"_blank\" rel=\"noopener\"><u>https:\/\/www.zonebourse.com<\/u><\/a>).<\/li><\/ul><p>Autre illustration de cette dichotomie : l\u2019opposition de 2 marqueurs de march\u00e9s que met Pictet en avant pour la fin de l\u2019ann\u00e9e : \u00ab Dividends are back \u00bb, contre \u00ab who pay the bill ? \u00bb<\/p><p>On a de petites interf\u00e9rences sur les march\u00e9s, mais qui trouveront un heureux d\u00e9nouement. C\u2019est le cas du <em>soap opera<\/em> am\u00e9ricain du plafond d\u2019endettement f\u00e9d\u00e9ral, qui revient r\u00e9guli\u00e8rement sur le devant de la sc\u00e8ne : le plafond doit \u00eatre augment\u00e9 pour que la planche \u00e0 billet am\u00e9ricaine puisse continuer \u00e0 produire.<\/p><p>Sinon, \u00ab \u00e7a va \u00eatre super m\u00e9ga grave, on ferme toutes les administrations, on met les soldats au ch\u00f4mage \u00bb, etc\u2026 M\u00eame Janet Yellen y va de son couplet : \u00ab le solde de tr\u00e9sorerie du d\u00e9partement du Tr\u00e9sor tomberait \u00e0 un niveau insuffisant \u00bb (<a href=\"https:\/\/www.lesechos.fr\/financemarches\/marches-financiers\/la-secretaire-au-tresor-americain-alerte-sur-un-defaut-de-paiementde-la-dette-americaine-1347570\" target=\"_blank\" rel=\"noopener\"><u>https:\/\/www.lesechos.fr<\/u><\/a>)<\/p><p>Pour m\u00e9moire, ledit plafond de dette maximale est aujourd\u2019hui \u00e0 28 400 milliards de USD (oui, vingt huit mille quatre cents milliards, ou <span style=\"color: #000000;\">28 400 000 000 000 dollars<\/span>).<\/p><p>Nous reprenons ici un commentaire de Dominique Larue, de notre Comit\u00e9 d\u2019investissement, qui reprend la liste de points qui ne militent pas n\u00e9cessairement pour une poursuite de la hausse des march\u00e9s actions :<\/p><p><em>\u00a0<\/em><\/p><p><em>Apr\u00e8s que le S&amp;P 500 a battu 54 records cette ann\u00e9e,<\/em><strong><em> on peut penser que l\u2019euphorie est termin\u00e9e et que l\u2019on pourrait avoir quelques semaines chahut\u00e9es pour plusieurs raisons :<\/em><\/strong><\/p><ul><li><em>La baisse r\u00e9cente de la bourse chinoise li\u00e9e au surendettement de la sph\u00e8re immobili\u00e8re, qui risque de se diffuser sur les places occidentales,<\/em><\/li><li><em>Hausse des taux avec le plan d\u2019all\u00e9gement \u00e0 venir des banques centrales susceptible de faire resurgir le spectre des exc\u00e8s des dettes d\u2019Etat, et la question cl\u00e9s : qui va payer et comment payer la dette du COVID-19 ?<\/em><\/li><li><em>La menace d\u2019une hausse de 21 \u00e0 25% du taux d\u2019IS aux USA et sa propagation dans les autres pays,<\/em><\/li><li><em>Le d\u00e9veloppement du variant DELTA dans les zones mal vaccin\u00e9es contre le COVID-19,<\/em><\/li><li><em>Un niveau de valorisation \u00e9lev\u00e9 qui incite les op\u00e9rateurs \u00e0 prendre leurs profits,<\/em><\/li><li><em>Un potentiel de baisse d\u2019autant plus \u00e9lev\u00e9 que le niveau de valorisation actuel est haut.<\/em><\/li><li><em>Et enfin nous entamons bient\u00f4t le mois d\u2019octobre qui est souvent un mois boursier m\u00e9diocre, assorti d\u2019indicateurs techniques n\u00e9gatifs depuis ce matin sur la tendance \u00e0 court terme.<\/em><\/li><\/ul><p>Pour ces raisons, et dans des cas particuliers, l\u2019exposition actions de certains portefeuille a \u00e9t\u00e9 r\u00e9duite de l\u2019ordre de 8%.<\/p><p>A votre disposition pour en reparler,<\/p><p>Bien \u00e0 vous,<\/p><p>Pierre<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-1291e95\" data-id=\"1291e95\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-ef66062 elementor-widget elementor-widget-image\" data-id=\"ef66062\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"800\" height=\"480\" src=\"https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003.png\" class=\"attachment-large size-large wp-image-1983\" alt=\"logo-linkedin\" srcset=\"https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003.png 1000w, https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003-300x180.png 300w, https:\/\/momentum.lu\/wp-content\/uploads\/2021\/11\/Linkedin-Logo-2003-768x461.png 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bfb0728 elementor-widget elementor-widget-shortcode\" data-id=\"bfb0728\" data-element_type=\"widget\" data-widget_type=\"shortcode.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-shortcode\"><iframe src=\"https:\/\/www.linkedin.com\/embed\/feed\/update\/urn:li:ugcPost:6846806904811925504\" height=\"813\" width=\"504\" frameborder=\"0\" allowfullscreen=\"\" title=\"Post int\u00e9gr\u00e9\"><\/iframe><\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2349fda elementor-align-center elementor-widget elementor-widget-button\" data-id=\"2349fda\" data-element_type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/www.linkedin.com\/posts\/momentum-asset-management_flash-march%C3%A9s-23-septembre-2021-activity-6846806905344593920-FSXg\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Voir l'article<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-af897bc elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"af897bc\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-653f0f0\" data-id=\"653f0f0\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-dd9bd77 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"dd9bd77\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-b8bd05c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"b8bd05c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-a6d3813\" data-id=\"a6d3813\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-632c04f elementor-widget elementor-widget-heading\" data-id=\"632c04f\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Partager<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a8d1583 elementor-share-buttons--view-icon elementor-share-buttons--skin-gradient elementor-share-buttons--shape-square elementor-grid-0 elementor-share-buttons--color-official elementor-widget elementor-widget-share-buttons\" data-id=\"a8d1583\" data-element_type=\"widget\" data-widget_type=\"share-buttons.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-grid\" role=\"list\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_facebook\" role=\"button\" tabindex=\"0\" aria-label=\"Partager sur facebook\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<i class=\"fab fa-facebook\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_twitter\" role=\"button\" tabindex=\"0\" aria-label=\"Partager sur twitter\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<i class=\"fab fa-twitter\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t\t<div class=\"elementor-share-btn elementor-share-btn_linkedin\" role=\"button\" tabindex=\"0\" aria-label=\"Partager sur linkedin\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-share-btn__icon\">\n\t\t\t\t\t\t\t\t<i class=\"fab fa-linkedin\" aria-hidden=\"true\"><\/i>\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-638434f elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"638434f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-118d6ba\" data-id=\"118d6ba\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-088d1cf elementor-post-navigation-borders-yes elementor-widget elementor-widget-post-navigation\" data-id=\"088d1cf\" data-element_type=\"widget\" data-widget_type=\"post-navigation.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation\" role=\"navigation\" aria-label=\"Navegaci\u00f3n de la entrada\">\n\t\t\t<div class=\"elementor-post-navigation__prev elementor-post-navigation__link\">\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-post-navigation__separator-wrapper\">\n\t\t\t\t\t<div class=\"elementor-post-navigation__separator\"><\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"elementor-post-navigation__next elementor-post-navigation__link\">\n\t\t\t\t<a href=\"https:\/\/momentum.lu\/es\/2021\/11\/23\/flash-marches-23-septembre-2021-2\/\" rel=\"next\"><span class=\"elementor-post-navigation__link__next\"><span class=\"post-navigation__next--label\">Suivant<\/span><span class=\"post-navigation__next--title\">FLASH march\u00e9s 30 septembre 2021<\/span><\/span><span class=\"post-navigation__arrow-wrapper post-navigation__arrow-next\"><i aria-hidden=\"true\" class=\"fas fa-angle-right\"><\/i><span class=\"elementor-screen-only\">Siguiente<\/span><\/span><\/a>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-95f8ca1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"95f8ca1\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-210a13c elementor-invisible\" data-id=\"210a13c\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;zoomIn&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7d31599 elementor-widget elementor-widget-text-editor\" data-id=\"7d31599\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Cette note 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<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a7a2904 elementor-widget elementor-widget-pp-modal-popup\" data-id=\"a7a2904\" data-element_type=\"widget\" data-settings=\"{&quot;layout_type&quot;:&quot;standard&quot;,&quot;trigger&quot;:&quot;on-click&quot;,&quot;prevent_scroll&quot;:&quot;yes&quot;,&quot;close_button&quot;:&quot;yes&quot;,&quot;esc_exit&quot;:&quot;yes&quot;,&quot;click_exit&quot;:&quot;yes&quot;,&quot;popup_animation_in&quot;:&quot;mfp-zoom-in&quot;,&quot;overlay_switch&quot;:&quot;yes&quot;,&quot;close_button_position&quot;:&quot;win-top-right&quot;}\" data-widget_type=\"pp-modal-popup.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"pp-modal-popup-wrap\" id=\"pp-modal-popup-wrap-a7a2904\">\n\t\t\t<div class=\"pp-modal-popup\" data-src=\"#pp-modal-popup-window-a7a2904\" data-popup-settings=\"{&quot;popupType&quot;:&quot;inline&quot;,&quot;src&quot;:&quot;#pp-modal-popup-window-a7a2904&quot;,&quot;triggerElement&quot;:&quot;.pp-modal-popup-link-a7a2904&quot;}\">\n\t\t\t\t<div class=\"pp-modal-popup-button-wrap elementor-align-center\"><span class=\"pp-modal-popup-button pp-modal-popup-link pp-modal-popup-link-a7a2904 elementor-button elementor-size-sm\"><span >vOIR INFOS<\/span>\t\t\t<span class=\"pp-button-icon pp-icon\">\n\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-info-circle\"><\/i>\t\t\t<\/span>\n\t\t\t<\/span><\/div>\t\t\t<\/div>\n\t\t<\/div>\n\t\t<div class=\"pp-modal-popup-window pp-modal-popup-window-a7a2904\" id=\"pp-modal-popup-window-a7a2904\">\n\t\t\t\t<div class=\"pp-popup-content\" id=\"pp-popup-content\"><p><em>Les informations et donn\u00e9es indiqu\u00e9es, les opinions, avis, et remarques exprim\u00e9s sur ce site sont propos\u00e9s aux personnes qui le consultent \u00e0 titre d'information uniquement.\u00a0 <\/em><\/p>\n<p><em>Ils sont repris sans aucune garantie - qu'elle soit de nature explicite ou implicite - ni engagement quant \u00e0 leur caract\u00e8re exhaustif, leur pr\u00e9cision ou leur actualisation.\u00a0 <\/em><\/p>\n<p><em>Ils ne constituent pas une offre, une d\u00e9marche de commercialisation ou de recommandation, une sollicitation \u00e0 acheter, vendre, contracter ou souscrire \u00e0 un service ou produit financier quel qu'il soit.\u00a0 <\/em><\/p>\n<p><em>Ils ne constituent pas davantage un avis ou conseil juridique, financier, comptable ou autre.\u00a0 Ils ne se substituent en aucun cas aux consid\u00e9rations personnelles du visiteur, \u00e0 ses connaissances techniques, ou encore, \u00e0 ses comp\u00e9tences professionnelles. <\/em><\/p>\n<p><em>Les informations et donn\u00e9es doivent donc \u00eatre utilis\u00e9es avec les conseils d'un professionnel <\/em><\/p>\n<p><em>qualifi\u00e9\u00a0\u00a0 -\u00a0\u00a0 Voir aussi sur notre site <a href=\"https:\/\/www.momentum.lu\/e-mail-disclaimer\/\"><u>https:\/\/www.momentum.lu\/e-mail-disclaimer\/<\/u><\/a><\/em><\/p>\n<\/div>\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>FLASH march\u00e9s 23 septembre 2021 | Actualit\u00e9s Chers Tous, M\u00eame commentaire que la semaine derni\u00e8re, pour les 7 jours pass\u00e9s, \u00ab \u00e7a a descendouill\u00e9 violemment lundi, et puis \u00e7a a remontouill\u00e9 \u00bb. La remont\u00e9e s\u2019est faite un peu contre toute attente, li\u00e9e au fait de l\u2019ampleur des probl\u00e8mes d\u2019Evergrande et de la FED. Mais nous [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4854,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","inline_featured_image":false,"footnotes":""},"categories":[9],"tags":[],"class_list":["post-1","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-9"],"_links":{"self":[{"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/posts\/1","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/comments?post=1"}],"version-history":[{"count":0,"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/posts\/1\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/media\/4854"}],"wp:attachment":[{"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/media?parent=1"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/categories?post=1"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/momentum.lu\/es\/wp-json\/wp\/v2\/tags?post=1"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}